Import & Export
The UAE is the third largest import and export, India and UAE have shared a fast growing partnership. Dubai being part of the UAE, puts Dubai on the West crossroads of international trading. India being the supplier for Dubaiās apparel, Indian apparel takes 32% contribution of apparel imports in UAE (Apparel Imports into UAE, 2021). UAE percentage share for apparel exports is 12.4% out of India exports (Import and Export Business Opportunities in Dubai, 2022).Ā In addition, the UAE government’s export credit company signed a memorandum of understanding with the export credit guarantee corporation from India to grow and create a boost in trading between both countries (UAE Apparel, Home Textiles & Fabric Exports To Rise in 2021: TexPro, 2021). Meanwhile Ilan Sztulam Starosta who is head of Israeli missions in Dubai, backed the collaboration of the International Federation of Indo Israel Chamber of Commerce (IFIICC) by Israeli innovation, the UAEās vision is to plan a strategic partnership with both parties and make Billions across the market.
Barriers
Dubai has an open trade regime with minimal tariffs and some non-tariff barriers, customs duty is 5% levied on imports but luxury goods and tobacco is 50-70%. Dubai customs duties arenāt payable such as International Financial Centre (DIFC) or Jebel Ali port, any goods come through only imported by entity, registered in UAE (Export markets-United Arab Emirates, 2023). Companies in UAE are only allowed to import product if trade license is appropriate. By Islamic law many goods cannot make it into Dubai āUAEā without special submissions like; alcohol, drugs, firearms, ammunition and explosives (United Arab Emirates-Import Tariffs, 2023). Many entryās have been denied because of the accordance with Islamic law, values, religious beliefs and morals.
